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PBGC Releases QDRO Practical Guide for Divorce Benefit Division

The Pension Benefit Guaranty Corporation (PBGC) has released a new guide titled 'Qualified Domestic Relations Orders: A Practical Guide to Dividing PBGC Benefits in Divorce.' This guide is designed to assist participants and alternate payees of PBGC-trusteed pension plans in understanding the process of dividing pension benefits during divorce proceedings.

PBGC Relaunches Opinion Letter Program for Compliance Assistance

The Pension Benefit Guaranty Corporation (PBGC) has relaunched its Opinion Letter Program to provide compliance assistance. This program allows the public to ask questions about how PBGC would apply laws to specific factual situations, with responses issued by the Office of the General Counsel.

ERISA, HIPAA, COBRA Technical Releases

The Department of Labor's Employee Benefits Security Administration (EBSA) has compiled a list of technical releases related to ERISA, HIPAA, and COBRA. These releases provide guidance on various aspects of employee benefit plans, including health insurance, claims, and disclosures.

PBGC Approves Special Financial Assistance for Laborers Local No. 265 Plan

The Pension Benefit Guaranty Corporation (PBGC) announced the approval of Special Financial Assistance (SFA) for the Laborers Local No. 265 Pension Plan. The plan will receive approximately $59.4 million to avert insolvency and prevent benefit reductions for its 1,460 participants.

PBGC Approves $868.8M Special Financial Assistance for UNITE HERE Fund

The Pension Benefit Guaranty Corporation (PBGC) has approved $868.8 million in Special Financial Assistance (SFA) for the UNITE HERE Fund. This funding averts insolvency for the plan, which covers over 91,000 hospitality workers, preventing benefit reductions.

PBGC FY 2024 Projections Report Shows Improved Insurance Outlook

The Pension Benefit Guaranty Corporation (PBGC) released its Fiscal Year 2024 Projections Report, indicating an improved financial outlook for its Multiemployer and Single-Employer pension insurance programs. The report projects the Multiemployer Program will remain solvent for 40 years, and the Single-Employer Program's net position is expected to grow significantly.

PBGC FY 2025 Annual Report Shows Financial Improvement

The Pension Benefit Guaranty Corporation (PBGC) released its Fiscal Year 2025 Annual Report, indicating continued financial improvement in its insurance programs. Both the Single-Employer and Multiemployer programs reported positive net financial positions for the fifth consecutive year.